On January 17th, Alejandro Delgado, SiiLA’s Country Manager Mexico, presented an updated Market Overview of the commercial real estate market for the fourth quarter of 2022. SiiLA releases a report every quarter on the real estate trends in Mexico's industrial sector.

In this edition of the Market Overview, Delgado indicated that the Bajio region (consisting of Aguascalientes, Guanajuato, Querétaro, and San Luis Potosí) has the largest group of markets in the country in terms of existing square meters, although it hasn't grown the most in recent years.

The industrial market outlook has been exceptional, with historically low availability rates and significant increases in market prices. There has even been an oversupply of property since mid-2022. The vehicle and parts industry is currently the most prominent, followed by capital goods and transportation and logistics.

During the SiiLA Market Overview, it was revealed that the national industrial real estate market's availability rate has reached historic lows (2%) in a context where demand outstripped supply, leading to anticipated price increases. The Mexican market is expanding.

Additionally, the pace of new inventory has been increasing. Nearly 900,000 square meters were added in the second quarter of 2022, a 24% increase over the previous quarter. During the third and fourth quarters, more than 2.8 million square meters were added.

Compared to 2021, last year was excellent, with a 47% increase in new inventory. In 2021, new inventory totaled nearly three million square meters, while in 2022, it was over 4.4 million square meters.

SiiLA is the leading analysis and intelligence platform for commercial real estate in Latin America, with offices in Mexico, Brazil, and Colombia.

SiiLA’s Market Overview is exclusive content for clients. If you're interested in learning more about the commercial real estate market in Mexico, please contact us at contacto@siila.com.mx.